Tagged: libra

June 29, 2019 @ 8:40 am By Cali Haan  |  

Clone websites designed to capitalize on the hype surrounding Facebook’s recently announced Libra cryptocurrency (not due for release until 2020) and divert investor funds to scammers are already cropping up across the net, cybersecurity firm Digital Shadows (DS) reports in a recent block post. The… Read More

June 28, 2019 @ 9:58 am By JD Alois  |  

Facebook’s Libra coin, a stablecoin crypto, may eventually falter and fail. It will take some time for Libra to get its digital sea legs or not. But whether or not you are a Libra fan or detractor, old finance is standing up and taking notice…. Read More

June 28, 2019 @ 8:39 am By Cali Haan  |  

Etienne Goosse, director general of the European Payments Council (EPC), has told Reuters that Facebook’s new cryptographic payments program, Libra, is forcing banks in the Eurozone to rapidly develop an instant payments network for banks in the zone. The EPCs goal is to help harmonize… Read More

June 26, 2019 @ 1:23 am By Cali Haan  |  

There has been much trepidatious commentary issued since Facebook announced its Libra Coin cryptocurrency venture last week. Politicians have warned that Libra, a payment system purportedly intended to help bank the unbanked and grant them access to low-cost remittances (while profiting Facebook), could run afoul of… Read More

June 25, 2019 @ 10:09 pm By Cali Haan  |  

Patrick Gaulthier, vice president of Amazon Pay told attendees at Fortune’s Brainstorm Finance 2019 event earlier this month that retail giant has no immediate plans to involve itself with Facebook’s Libra coin venture or start an Amazon crypto. “It’s fresh, it’s speculative,” he said regarding Libra…. Read More

June 25, 2019 @ 7:47 am By Barry James  |  

The world stands at a crucial juncture when new DNA will be created that will form and influence our civilizations for generations to come, determining what our future looks like. The world is now in a position to build global public infrastructure. Who owns this… Read More

June 25, 2019 @ 1:29 am By Cali Haan  |  

Reserve Bank of Australia chief Philip Lowe told participants in a Q&A session June 20th that he does not expect Facebook’s new Libra cryptocurrency network to be fully implemented any time soon. “There’s a lot of water under the bridge before Facebook’s proposal becomes something… Read More

June 24, 2019 @ 9:27 pm By Cali Haan  |  

Last week’s announcement of “Libra,” Facebook’s move into creating a cryptocurrency payments infrastructure to underpin its social network, was met with considerable fanfare and may have induced a rally in the price of Bitcoins. But several pundits on Yahoo have noted that so far, banks… Read More

June 24, 2019 @ 3:34 pm By Cali Haan  |  

Facebook announced it’s forthcoming price-stabilized cryptocurrency, “Libra,” last week, and many politicians across the globe have been sounding the alarm on it. A number of American politicians issued sober warnings regarding the advent of Libra. US Senator Sherrod Brown warned that Facebook’s new payment system would… Read More

June 22, 2019 @ 11:04 am By JD Alois  |  

Hedera Hashgraph, one of several aspiring iterations of blockchain, or distributed ledger technology, designed to address existing shortcomings in DLT 1.0, has paid for a full-page advertisement in the Wall Street Journal mocking Facebook. Last week, Facebook officially launched “Libra” its spin on crypto. The… Read More

June 22, 2019 @ 8:30 am By Cali Haan  |  

Bank of England Governor Mark Carney told colleagues at the Lord Mayor’s Banquet for Bankers and Merchants of London June 20th that DLT (distributed ledger technology, also known as “blockchain”) used for financial settlements could save, “….billions of pounds in capital and liquidity that can be… Read More

June 22, 2019 @ 8:07 am By Cali Haan  |  

Facebook’s new cryptocurrency “stablecoin” network, Libra, will not use the same energy-consumptive system as Bitcoin, but the coin could still lead to a boom in the creation of standard data centres, a sector that already consumes as much power aviation, The Verge reports. This week’s… Read More

June 21, 2019 @ 7:15 am By JD Alois  |  

Facebook’s push into cryptocurrency has engendered an exceptional amount of debate and discussion. Some people think it is great. Others, not so much. It doesn’t help that Facebook is a company that has a penchant for abusing their user data while claiming transparency and actually… Read More

June 21, 2019 @ 1:04 am By JD Alois  |  

A report indicates that Facebook may have to skip over India when it launches Libra, its cryptocurrency based off a basket of stable assets. According to the EconomicTimes, “a person directly in the know” said Facebook has failed to ask for, and receive, regulatory approval:… Read More

June 20, 2019 @ 11:06 am By JD Alois  |  

The Senate Committee on Banking, Housing, and Urban Affairs has booked a hearing on Facebook and its recently announced cryptocurrency Libra. The hearing was largely anticipated as multiple politicians issued public statements on the day Facebook revealed their vision for the future of finance using… Read More

June 20, 2019 @ 3:42 am By JD Alois  |  

It is inevitable that Facebook’s crypto Libra will come under intense scrutiny and a good amount of criticism. The stablecoin, which many people think is really a security token in disguise, has already taken heat from prominent US politicians. Expect public hearings in the House… Read More

June 19, 2019 @ 4:34 pm By JD Alois  |  

Following today’s FOMC meeting where the US Federal Reserve announced no change in interest rates at this time, Fed Chair Jerome Powell was asked a question about crypto. In the Q&A session that typically accompanies the FOMC statement, one reporter asked Powell if he was… Read More

June 18, 2019 @ 10:47 pm By JD Alois  |  

Representative Maxine Waters, Chairwoman of the powerful House Financial Services Committee issued the following statement in the wake of Facebook’s cryptocurrency announcement today. Facebook’s “Libra” is a stablecoin created from a basket of assets but the ecosystem also has the ability to create smart contracts… Read More

June 18, 2019 @ 10:13 pm By JD Alois  |  

As reported earlier today, Facebook officially launched its long-anticipated stablecoin named Libra. Facebook revealed details of their own cryptocurrency stating it was based on a “collection of currencies and other assets.” Facebook also said Libra will be able to create Smart Contracts similar to Ethereum… Read More

June 18, 2019 @ 5:45 pm By JD Alois  |  

Several US politicians have issued statements critical of Facebook’s new cryptocurrency – Libra. Officially announced today, Libra is first a payment platform but Facebook has much bigger ambitions with the crypto. Facebook views it as a step in the direction of redefining financial services. US… Read More